Independence Gold (CVE:IGO) Shares Down 4.2% – Here’s What Happened

Independence Gold Corp. (CVE:IGO)’s stock price was down 4.2% during trading on Wednesday. The stock traded as low as C$0.11 and last traded at C$0.12. 735,638 shares traded hands during trading, an increase of 81% from the average daily volume of 406,457 shares. The stock had previously closed at C$0.12.

Independence Gold Price Performance

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.38 and a current ratio of 2.52. The company has a 50-day moving average of C$0.16 and a 200-day moving average of C$0.12. The stock has a market capitalization of C$32.99 million, a price-to-earnings ratio of -4.17 and a beta of 0.43.

Insider Activity

In other news, insider Gestion Bouca Inc bought 1,428,810 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of C$0.19 per share, for a total transaction of C$271,473.90. Following the completion of the transaction, the insider owned 43,145,020 shares in the company, valued at C$8,197,553.80. The trade was a 3.43% increase in their ownership of the stock. Insiders have purchased a total of 5,680,710 shares of company stock worth $1,027,930 over the last quarter. Corporate insiders own 12.50% of the company’s stock.

About Independence Gold

Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in Canada and North America. It explores for gold and silver deposits. The company holds 100% interest in the 3Ts Project comprising six claim groups and consist of seventy mineral claims covering an approximately 8,840 hectares located in the Nechako Plateau region of central British Columbia; and the Laidman Project comprising six mineral tenures covering an approximately 10,800 hectares located in the British Columbia.